Kailuan Group

Chinese coal miner Kailuan Group plans to build a coal reserve base on the northeast coast to store 50 million tonnes of the fossil fuel.

As one of the world's largest coal consumer and producer, it has set up four to six coal reserve bases, each with a storage capacity of more than 20 million tonnes, in eastern Shandong province to help cope with future supply shocks.

The base planned by Kailuan would be located in the Caofeidian area of Hebei province and would cost an estimated 2 billion yuan ($294 million). No timeframe has been provided.